Swiss Watch Exports Just Hit An 8-Year High

Exports reached roughly $3.35 billion last month due to deep-pocketed shoppers.

By Rachel Cormack 23/08/2022

It’s an excellent time to be a watchmaker in Switzerland.

Swiss watch exports climbed to the highest point in nearly a decade last month as the demand for top-tier wrist candy continues to grow apace.

Exports rose 8.3 percent in July compared to the same month in 2021, reaching roughly $3.35 billion, according to the Federation of the Swiss Watch Industry (FHS). That’s the highest value for exports of Swiss watches since a record performance in October 2014, as reported by Bloomberg.

Exports Stateside also increased 13.5 per cent from the year prior. The US remains the biggest market for Swiss timepieces after overtaking China last year. China is the second strongest market, followed by Hong Kong, Singapore and Japan. Most major markets in Asia and Europe increased by double-digit percentages.

FHS Swiss Watch Sales July
The US remains the biggest market for Swiss timepieces. FHS

The eight-year high can be attributed to an influx of deep-pocketed shoppers. The top Swiss watchmakers, such as Rolex, Omega, Audemars Piguet and Patek Philippe, attracted many new clients during the pandemic as online shopping boomed.

According to the FHS, high-end timepieces were a key growth driver. Exports in this category—that is, watches priced over US$500—accounted for more than a third of volumes and 95 percent of value. Conversely, exports of watches priced between roughly US$200 and US$500 plummeted 29.2 percent in value. This downward trajectory began in early 2020.

“The post-pandemic high-end demand wave continues,” Bernstein analyst Luca Solca told Bloomberg.

Solca added that any drop in demand would be noticed first in shops and boutiques as Swiss watches are predominately sold through wholesale channels and there is a lag between orders and deliveries.

“If and when there is a slowdown—watch exports will not see it first,” Solca added.

Many horological heavyweights have already been forced to implement waitlists as demand for high-end timepieces outstrips the supply.

It may not be such an excellent time for collectors.

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Sitting on the Dock of Balmain

Is The Dry Dock Sydney’s Hottest New Pub Renovation?

By Belinda Aucott-christie 15/05/2024

At its peak, in the late 1890s, Balmain had 55 pubs. They were noisy watering holes that serviced thirsty hordes after a day’s labour at the suburb’s harbourside coal mine and shipyards. Today, Balmain is dotted with charming workers’ cottages set behind picket fences and stolid corner pubs, which have been converted into restaurants and homes.

One such establishment, the Dry Dock on Cameron Street, has undergone a multi-million dollar renovation. As an original public house built in 1857, it remains fixed in a local backstreet and offers a porthole to the suburb’s blue-collar roots.

Locals can still bring their dogs into the front bar, or retreat to the lounge to sit next to a crackling log fire. 

The renovation carried out by Studio Isgro and H&E Architects combines rustic touches—like the acid-etched sandstone exterior, exposed brickwork and beams  —with elegant light fittings, an incredible sound system and tasteful art. “It has a transportive, escapist quality, where you could be anywhere, or right at home,” says interior designer Bianca Isgro of Studio Isgro, who spent two years on the overhaul. Her team designed a modern gastropub on the site after gutting and stripping the building, which had been neglected for years. 

Founder and managing director James Ingram (ex-Solotel and Merivale) has assembled a warm, friendly service team that matches the pub’s character. He says his team has fought hard to preserve the pub’s long-standing connection to residents and to get the mix of old and new right.

“Balmain is home to so many devoted residents who are rightly proud of the suburb’s working-class roots,” says Ingram over a frothy beer in the warm-toned front bar.

“The Dry Dock has been designed to have that timeless feel that stands the test of time.” 

The large open kitchen features an oyster bar and serves French-style fare, delicious sides, and hot desserts. The wine list is on point, with something in every price range and a friendly sommelier doing the rounds. 

The kitchen is led by seasoned chef Ben Sitton, who previously rattled the pans at institutions including Felix, Uccello and Rockpool Bar & Grill. His kitchen faces a large dining room with unclothed tables, bentwood chairs, tumbled marble floors and exposed trusses that give it a contemporary feel.

The back of the room overlooks a walled garden, with a giant ghost gum at its centre and views of neighbouring residential fences. 

 

Chef Sitton says his team relishes the opportunity to cook from an expansive modern European repertoire with quality produce. The robust flavours and textures are centred around the smoky quality that comes from Josper charcoal grills, wood-fired ovens, and the rotisserie.  

You can order steak frites with charred baby carrots, or baked market fish with a cheesy, potato gratin.

The Peninsula Hospitality Group, the team behind Dry Dock, is now looking to expand its foothold in Balmain by opening at least one other venue.

Visit for the food, stay for the vibe.

The Dry Dock, Public House & Dining Room, 22 Cameron Street, Balmain, NSW 2041. P: 02 9555 1306; drydock.com.au

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Animal Kingdom

A veritable menagerie of high-jewellery sparklers awaits this season.

By Robb Report Team 16/05/2024

Crocodiles, lions, snakes and flamingos have all found their way into magnificent high jewellery. 

At Chaumet master craftsmen draw inspiration from the balletic flight of swallows. At Cartier a mischievous crocodile makes a cunning circle around the throat and at Paspaley 137 sapphires and gem bejewels fascinators attached to a pair of Keshi pearl studs. 

Read on for ideas of how to spoil yourself or someone you love with something from the animal kingdom.

CARTIER
Crocodile necklace
White gold set with emeralds and brilliant-cut diamonds. POA; cartier.com.au

CHANEL 
Lion solaire earrings 18k white gold and diamonds. $140,200; chanel.com


A LA VIEILLE RUSSIE
Victorian diamond fish brooch Pavé diamond trout set in silver and gold. $14,300; alvr.com

DAVID WEBB
Bird of paradise brooch Cabochon star sapphire, carved emerald and ruby leaves, brilliant-cut diamonds, 18k gold and platinum. POA; davidwebb.com

CHAUMET
Capturing the aerial movements of swallows, in white and rose gold with marquise-cut diamonds. POA; chaumet.com

A LA VIEILLE RUSSIE
Mississippi River pearl flamingo brooch set Baguette diamond legs and brilliant-cut diamond head, tail and neck, and ruby eye. Circa 1930. $24,000; alvr.com

JEAN SCHLUMBERGER by Tiffany & Co.
Bird on a rock pendant
Platinum and 18k yellow gold, pink sapphires and diamonds (one of which is more than 15 carats). POA; tiffany.com

A LA VIEILLE RUSSIE
Antique green garnet frog brooch Demantoid garnet with old mine diamond eyes, set in gold
and platinum. $71,000; alvr.com

PASPALEY
Wild feather earring enhancer Featuring 43 white diamonds, 137 sapphires and 26 tsavorites set in 18k yellow gold. Keshi pearl studs sold separately. $11,800; paspaley.com

BULGARI

Mediterranean Sapphire Serpenti necklace, nine sapphires from Sri Lanka for a total of 40,81carats evoking snake’s scales are set in a precise and sinuous platinum and pavé diamond body construction culminating in a dramatic pendant tassel including 80 oval-shaped sapphire beads totaling 116 carats. POA’ Bulgari.com

 

 

 

 

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How To Drink Salon, Guilt-Free with Nick Hildebrandt

Once-in-a-Lifetime Wines By The Glass Come to Melbourne’s Atria and Sydney’s Bentley Restaurant + Bar

By Belinda Aucott-christie 15/05/2024

Want to eat a succulent starter of pearl meat and smoked lime butter with a glass of 2013 Champagne Salon? Or sink your teeth into chef’s cut Tallow-age beef while sipping a silky glass of 2021 Bass Phillip Pinot Noir?

This month you can. 

All through May, wine-loving patrons can order such rare drops by the glass at Michael Greenlaw’s Atria at The Ritz-Carlton in Melbourne, and Brent Savage’s The Bentley Restaurant + Bar in Sydney. Think glasses of Margaux  for around $70 and Crozes-Hermitage for under $50.

These precious wines that never grace wine lists, let alone by-the-glass menus, are being offered at 50% below the expected by-the-glass price, courtesy of Coravin’s World Wine Tour. 

Coravin is the life-preserving wine tech that allows oenophiles to pour vintage wines without removing the cork. The patented needle and gas system allows for the extraction of fine wine, without exposing the precious vintages to ruinous oxygen.

“This is a great initiative,” says owner and sommelier Nick Hildebrandt from his dimly-lit ground floor venue The Bentley Restaurant + Bar.. 

“This May we have the opportunity to pour by the glass some of the world’s most sought after wines. Especially Champagne Salon, which is extremely rare, and my favourite Champagne of all time,” he says beaming at the thought of serving the scarce blanc de blancs.

“We have a large following of loyal wine lovers who come to our restaurants and they are super excited to taste these wines at a reasonable price.”

The smiling sommelier continues, “Our guests will have the opportunity to taste a selection of famous and rare wines in pristine condition without spending hundreds or, in some instances, thousands on a bottle.” 

Until the end of May, patrons can sample wines from a limited list expertly curated by Coravin, featuring local and international gems. Learn more about Coravin’s World Wine Tour here.

To book visit Atria or Bentley Restaurant + Bar

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Painted Black

Dion Lee is teaming up with Cho Cho San for an Australian Fashion Week event.

By Horacio Silva 10/05/2024

The more things change, the more things stay the same. Nowhere more than in the fashion world. Despite the vagaries of taste, black remains the go-to colour of choice. Fitting, then, that for next week’s Australian Fashion Week, the perennially black-clad media darling Dion Lee has partnered with Pott’s Point Izakaya joint Cho Cho San on a black-themed late-night ramen bar.

Lee, based in New York and not showing in Sydney next week, has worked with the restaurant to create a menu inspired by his inky, haute-industrial aesthetic and favourite flavours.

As part of the signature offering ($50pp) guests are offered “Dion’s Martini” on arrival (his take on the classic vodka drink spiked with a black olive, natch), a Tokyo-style shoyu ramen with shitake mushrooms, smoked daikon and crunchy tempura shiso leaf, and a winning black sesame and cocoa soft-serve ice-cream replete with black cone. (Trust us, it tastes infinitely better than it sounds.)

Lee rarely strays outside his fashion lane, but a little blackbirdie tells us to expect an announcement soon about a major new collaboration. Let’s hope it involves black ice cream.

Cho Cho San x Dion Lee: Late Night Ramen Bar

Available from May 13-16, 5pm to late.

Signature set: $50pp includes Dion’s Martini, Tokyo Shoyu Ramen and Black Sesame Soft Serve.

To book click here

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A New Chapter for Jaeger-LeCoultre’s ‘Reverso Stories’

A special Reverso exhibit arrives in Sydney this week.

By Josh Bozin 08/05/2024

Few watch enthusiasts would be unfamiliar with Jaeger-LeCoultre and its enduring Reverso collection. Since 1931, the Reverso has been celebrated as one of the great dress watches of the 20th century.

In recent years, the watch has gone from strength to strength—in 2023 alone, we received the new Reverso Tribute Chronograph, the impressive Duoface Tourbillon, and the slimmer Reverso Tribute Small Seconds—capturing the imagination of casual observers, collectors, and those looking to scale the horological ladder.

Jaeger-LeCoultre
Jaeger-LeCoultre

It is also part of the cultural conversation thanks to exceptional branding experiences, such as ‘Reverso Stories’, a travelling experiential trunk show. Jaeger-LeCoultre is again summoning its movable experience to Australia, this time in the heart of Sydney’s CBD. For a limited time, eager fans can glimpse the Reverso collection up close via a multi-sensory exhibition tracing the history of this remarkable timepiece.

Presented in four chapters ( Icon, Style and design, Innovation, and Craftsmanship), the Reverso story will be told through the lens of Jaeger-LeCoultre’s expert watchmakers, who combine nine decades of craftsmanship, inventiveness, and design into one interactive experience.

As a bonus, guests will be privy to a large-scale art installation by Korean artist Yiyun Kang—commissioned by the Maison under its ‘Made of Makers’ programme—and the launch of three exceptional new Reverso timepieces, yet to be revealed. These watches will showcase skills such as enamelling, gold-leaf paillonage, and gem-setting, mastered by the manufacturer’s in-house Métiers Rares (Rare Handcrafts) atelier.

Jaeger-LeCoultre
Jaeger-LeCoultre

Completing the immersion into the spirit of Art Deco, guests will be able to enjoy a complementary refreshment post-experience at the pop-up Jaeger-LeCoultre 1931 Café.

‘Reverso Stories’ will be held in Sydney’s Martin Place from 10–19 May 2024. It will be open daily from 9 a.m. to 7 p.m. (and 5 p.m. on Sundays) and free to the public. Visitors are welcome to book online here or register upon arrival.

For more information, visit Jaeger-LeCoultre.

 

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